[ad_1]
Dame Alison Rose, the former NatWest Group chief executive, is weighing moves to challenge a looming decision by the taxpayer-backed lender to cancel millions of pounds in unvested share awards she was due to receive.
Sky News understands that Dame Alison, who was effectively forced to step down in July after acknowledging that she discussed the former UKIP leader Nigel Farage’s private banking arrangements with a BBC journalist, is consulting lawyers on her legal options.
It was unclear whether she would mount a formal legal challenge if NatWest’s board proceeds, as expected, with a decision to cancel about £5.2m of long-term share options she had accrued during her leadership of the bank.
However, one person close to the situation said it was among the options expected to be seriously considered by Dame Alison.
City sources said they anticipated a decision being reached by its directors in the coming days, although it was unclear whether that would happen ahead of its third-quarter results announcement on Friday morning.
NatWest had been keen to resolve the issue ahead of the results, as Sky News reported earlier this month, although the legal complexities associated with it meant there was a risk that the decision-making process could be prolonged.
It emerged on Tuesday – following a subject access request by Mr Farage – that NatWest employees had belittled the broadcaster and former politician, making a stream of pejorative comments about his views and finances.
Coutts’ decision to ‘debank’ Mr Farage sparked a firestorm in Westminster and forced the City watchdog into an urgent review of the practice across Britain’s banking sector.
On Tuesday night, neither Dame Alison nor her spokesman responded to a request for comment.
A NatWest spokesperson said: “In line with our previous commitments, the key findings of the independent review and the recommendations will be considered by the board.
“These, along with the group response, will be…
[ad_2]
